Sizing the Gold and Silver Bet

Investors have "a $102 billion bet" on higher prices in silver and gold, Bloomberg News reports. It's interesting to think about what that money could do if it were invested in startup companies, or even in stocks and bonds of operating businesses seeking to finance expansion. As it is, the money finances some security guards at bank vaults, the operations and advertising of some ETF providers, and probably provides some incentives for some miners and scrap jewelry buyers. But in terms of financing economic growth and job creation, this is money that the federal government, by creating doubts about inflation risk and the value of the dollar, has in a way pushed off the table.